Understanding of the dynamics of industry

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Using Porter's 5 forces model of industry analysis and how it provides a framework for the analysis and understanding of the dynamics of an industry, answer the following questions in a thorough, elaborative manner. a. Pick an industry that you feel has a significant impact on people in today’s world. Describe it in general terms, and explain why the products or services emerging from that industry impact people. In the industry you have identified, state which two of the five forces are most relevant to the development of a strong strategy for sustainable advantage in that industry, and explain why you believe this is do. b. For each the two forces you discussed in part (a), give an example of a company for which that force is significant enough to affect the development of its strategies. Be sure to justify your choice.

Reference no: EM132228012

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